The legislation will simplify the law on larceny, fraudulent conversion, forgery and embezzlement.

After two years on remand, he pleads guilty to charges of fraudulent conversion of clients' funds and is sentenced to five years in jail less remission for good behaviour and the time he has already spent awaiting trial.

He faces 47 charges of false pretences, forgery and fraudulent conversion between 1995 and April 2001.